Mr. Jed Richardson reports

GREAT QUEST INCREASES COST SAVING AND ISSUES SHARES TO PAY DEBT AT$0.30

In order to preserve its cash for furthering its project, Great Quest Fertilizer Ltd. intends to satisfy certain indebtedness to certain members of its board of directors and management team through the issuance of common shares.

The company's directors and management have agreed to accept common shares in satisfaction of indebtedness due in connection with accrued compensation in the aggregate amount of $284,404, based on an issue price of 30 cents per common share. A total of 948,013 shares will be issued with respect to the settlement of the debt as follows: Gordon Peeling -- 244,167 common shares; Ehud Levy -- 137,180 common shares; Mohammed Bouhsane -- 166,666 common shares; and Jeddiah Richardson -- 400,000 common shares.

These outstanding amounts relate to historic compensation and director's fees deferred in favour of directing capital toward project work. The company has taken steps to cease accruals to insiders, directors voluntarily cancelled fees in December, 2014, and senior management has voluntarily halved salaries forgoing monies being accrued in December, 2015.

The share issuance is conditional upon approval by the TSX Venture Exchange. The common shares issued will be subject to a four-month statutory hold period from the date of issuance.

The issuance of the common shares constitutes related party transactions under Canadian Multilateral Instrument 61-101 by virtue of the participation in such transactions of the directors and management of the company referenced above, but the transactions are otherwise exempt from the formal valuation and minority approval requirements of MI 61-101.

We seek Safe Harbor.